Tesla’s stock drops 12pc as margins hit five-year low as Musk’s focus on AI and robotics falls flat

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SAN FRANCISCO, July 25 — Tesla shares tumbled 12 per cent yesterday, evaporating almost US$100 billion (RM467 billion) i...

Tesla’s stock has recently traded at 85 times its 12-month forward earnings estimates, compared to 7 for legacy automaker Ford Motor.

Tesla’s weak results, along with a report from Alphabet in which it flagged higher capital expenses, amounted to a poor start to second-quarter reports for Wall Street’s most valuable companies.

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Category: EconomyBusiness

Markets: MalaysiaChinaSingapore

Topics: Musk Tesla Electric vehicles EVs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 10:09:26 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 644 words

Reading Time: 4 minutes read

Sentences: 27 lines

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Copyright Owner: © Malay Mail

News ID: 21771894

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